Apple Music is fast approaching Spotify in it’s subscribers as Tim Cook talks on their impressive numbers and investing in TV shows and movies.
Apple’s CEO Tim Cook spoke to Bloomberg Television recently in an interview that shed some light on their incredibly fast growing music streaming service, Apple Music. Particularly notable was their subscriber count which shows their gain on Spotify showing no signs of slowing.
Cook revealed in the interview that Apple Music now has over 50 million users signed up to their music streaming service. This comes just a month after they revealed 40 million subscribers however Cook says they are now at over 50 million when you include users who have signed up for a free trial currently, many of which translate to paying subscribers.
Spotify gave their latest subscriber numbers earlier this month when they announced they had 75 million paying subscribers coming to stream their tunes with them. Apple Music are quickly approaching their numbers considering Spotify had 7 years on them, but Apple had their giant brand behind them. Although Apple are definitely encroaching on Spotify, including their free users Spotify still dominates with 170 million listeners coming in every month.
Cook also spoke briefly on their move into video content as their interests set on producing TV and Film and streaming video. Cook was reluctant however to give much detail on their plans, saying: “We are very interested in the content business. We will be playing in a way that is consistent with our brand. We’re not ready to give any details on it yet. But it’s clearly an area of interest.”
According to reports Apple have put at least $1 billion of investment into creating original video content. Apple haven’t been strangers to video content up until now, purchasing their own series of Carpool Karaoke, releasing documentaries, and more. Their video content will be headed up by Beats founders-cum-Apple executives Dr. Dre and Jimmy Iovine.